3.26 Glass Daily Review: Float glass market is stable but fluctuating

Float glass market price

Float glass market analysis
Today, the domestic 5mm float glass market is generally stable with small fluctuations, and regional performance is differentiated. In East China, Jiangsu manufacturers have poor shipments, and prices have been loosened and reduced by 20 yuan/ton, while Zhejiang market demand is relatively active, and the quotation has been raised by 20 yuan/ton, which has led to an increase in downstream enthusiasm for goods; the production and sales situation in Guangdong market in South China is still good, and manufacturers have slightly raised prices by 10 yuan/ton to stimulate appropriate inventory replenishment; production enterprises in other regions are mainly based on stable prices for shipments. The current market trading atmosphere has improved. Driven by the replenishment of inventory in the middle and lower reaches, the shipment situation in some regions has improved, and the glass price has been slightly raised; but the demand in some markets is still weak, and wait-and-see sentiment still exists.

Futures dynamics
According to Boduoduo data: On March 26, the opening price of the main glass contract FG2505 was 1245 yuan/ton, and finally closed at 1229 yuan/ton, with a daily increase of -0.81%. The highest intraday price was 1,269 yuan/ton, the lowest was 1,226 yuan/ton, and the position was 1,530,312 lots, down 67,988 lots from the previous month.

Today, the price of glass futures rose and fell, mainly because some speculative funds cashed in profits and left the market as the market environment allowed. At present, there is indeed pressure for glass futures prices to continue to rise after giving a premium space again. The emotional capital rush will give arbitrage opportunities and increase warehouse receipt expectations. There is a certain demand for a correction in the market, waiting for further inventory digestion and price increase in the spot market. In the future, the expectation of seasonal demand repair has not been broken, and the overall outlook is still relatively strong.

Forecast for the future market
There are still production lines in the float glass market that have plans for cold repairs, and the start-up may decline slightly; as seasonal demand picks up, the market has a certain momentum for recovery, but the market performance of "Silver Four" remains to be verified. In the short term, it is expected that the float glass market may continue to consolidate, and attention should be paid to whether the rise driven by the recovery of demand will continue.